The former head of Visa, Marc O’Brien, who spent 6 years working for Visa UK & Ireland has trade the world of fiat payments for the world of Cryptocurrency payments. Marc O’Brien has joined Crypterium as CEO, in what looks got be an exciting move for the relatively new crypto-project.
What is Crypterium?
Crypterium is a new startup, based in Estonia who completed their ICO at the end of 2017, raising an incredible $52 million in the process. Crypterium was found by a group of entrepreneurs who want to make a project and payments system which allows users to easily and seamlessly pay with cryptocurrency. Thus making cryptocurrency more user friendly and encouraging mass adoption.
The news was first reported by Business Insider, Marc O’Brien the former head of Visa told them in an official interview:
“The idea is that cryptocurrency is actually quite difficult today to use as an everyday method of payment. If you were to go to an exchange with your bitcoin or your ether it would probably take you 3 to 7 days to get that money paid out into a normal bank account.
What Crypterium will do is make that whole process seamless and give an opportunity for a consumer to actually use their cryptocurrency to pay for everyday items.”
Following his 6 year tenure at Visa (between 2008 and 2014) Marc O’Brien who was an advisor at Revolut, the popular global payment platform. Revolut began offering cryptocurrency trading services at the end of 2017 and this may well have been due to O’Brien’s influence.
Crypterium is now focussed on a partnership with either Marc’s previous company Visa, or MasterCard to launch cryptocurrency cards or virtual cards.
“That card will be attached to a wallet that we’ve created and every time the consumer makes a transaction we will receive a request for that transaction in our systems, we will check the bitcoin or ether account and provided that they’ve got sufficient balance we will execute a trade and mark their bitcoin balance for a trade and approve the transaction. You can be in a store and all of that’s done in a fraction of a second.”
Right now one of the main barriers between cryptocurrency and the everyday world is the ability to be able to use crypto to pay for things in shops. Crypterium is focused on bridging this gap, and the appointment of Marc O’Brien shows serious intent on this overall goal.